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PennyMac’s quarter to remember

By   /  Thursday, August 6th, 2020  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Real Estate, Top Stories, Top Story, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac’s quarter to remember

With mortgage rates at record lows and the homebuying and refinancing markets booming, PennyMac Financial Services, a Westlake Village mortgage lender, and its real estate investment trust both reported strong financial results on Aug. 6. PennyMac Financial Services announced a net income of $352.7 million for the second quarter of 2020, or $4.39 per share, Read More →


Eight arrested at Oxnard firm on mortgage fraud charges

By   /  Wednesday, July 31st, 2013  /  Latest news, Law & Goverment  /  Comments Off on Eight arrested at Oxnard firm on mortgage fraud charges

Eight people were arrested this morning on suspicion of carrying out a mortgage fraud scheme of filing bogus loan applications that generated hefty fees and commissions for the suspects while causing $11 million in losses for lenders when the homes went into foreclosure. The Ventura County District Attorney’s office began the investigation into Oxnard-based New Read More →


SLO mortgage lenders file personal bankruptcy

By   /  Monday, November 8th, 2010  /  Features, Top Stories  /  Comments Off on SLO mortgage lenders file personal bankruptcy

The former president of now-defunct mortgage lender Cameron Financial Group has filed for personal bankruptcy, listing $33.1 million in debts and $2.6 million in assets. E. Shannon Faries and his wife, Olivia Faries, filed for Chapter 7 bankruptcy on Sept. 29, listing mostly debts from their now-bankrupt company, which was based in San Luis Obispo. Read More →


Mozilo will pay $67.5 million to settle fraud case

By   /  Friday, October 15th, 2010  /  Latest news  /  Comments Off on Mozilo will pay $67.5 million to settle fraud case

Angelo Mozilo, the founder and former CEO of Countrywide Financial, will pay $67.5 million to settle civil charges brought by the U.S. Securities and Exchange Commission, the largest such settlement in SEC history, the agency said. In a settlement approved in federal court on Oct. 15, Mozilo agreed to pay $22.5 million in penalties and Read More →